Regal Cinemas CEO Eduardo Acuna Backs Paramount-Warner Bros. Merger, Says Antitrust Trial ‘Creates More Uncertainty and Distraction’
Regal Cinemas CEO Eduardo Acuna released a statement on Wednesday evening in support of the looming Paramount-Warner Bros. “While there is real momentum,...
Key points
- Regal Cinemas CEO Eduardo Acuna released a statement on Wednesday evening in support of the looming Paramount-Warner Bros.
- “While there is real momentum, we need a thriving studio system to ensure that the industry has a platform from which to grow.” “This is why, after much consideration, we believe it’s time for Paramount Skydance’s acquisition of Warner Bros.
- “It just creates more uncertainty and distraction that could be damaging to our industry as we build on our current success.” Regal’s backing comes a week after AMC Theatres CEO Adam Aron published an op-ed in Variety explaining his own reasons for supporting the deal.
- The suit also claims the wallets of theater owners and consumers will be hurt if Paramount and Warner Bros.
What happened
Regal Cinemas CEO Eduardo Acuna released a statement on Wednesday evening in support of the looming Paramount-Warner Bros. “While there is real momentum, we need a thriving studio system to ensure that the industry has a platform from which to grow.” “This is why, after much consideration, we believe it’s time for Paramount Skydance’s acquisition of Warner Bros. “It just creates more uncertainty and distraction that could be damaging to our industry as we build on our current success.” Regal’s backing comes a week after AMC Theatres CEO Adam Aron published an op-ed in Variety explaining his own reasons for supporting the deal. The suit also claims the wallets of theater owners and consumers will be hurt if Paramount and Warner Bros. Acuna and Aron also appear to be at odds with Cinema United, the exhibition industry trade group, and its head, Michael O’Leary, who have come out swinging against the sale of Warner Bros. Ellison published an op-ed in the New York Times on Tuesday, in which he wrote that the real reason the state AGs want these deals blocked is that he will control CNN if he’s allowed to scoop up Warner Bros.
Related on this blog
- David Ellison Says Opposition to Paramount-Warner Bros. Is Over His Control of CNN, Claims He Will Not ‘Bend Newsrooms to My Views’
- Cinema United Chief Michael O’Leary Blasts Paramount Warner Bros. Deal, Endorses Litigation to Delay Merger
- Judge Dismisses Lawsuit From Paramount Streaming Subscribers Seeking to Block Warner Bros. Merger